Wellington Management Group LLP Sells 1,453,757 Shares of Crown Castle Inc. $CCI

Wellington Management Group LLP decreased its position in Crown Castle Inc. (NYSE:CCI) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,325,403 shares of the real estate investment trust’s stock after selling 1,453,757 shares during the period. Wellington Management Group LLP’s holdings in Crown Castle were worth $1,312,053,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle during the third quarter worth about $29,000. Pingora Partners LLC acquired a new position in shares of Crown Castle in the 2nd quarter valued at approximately $30,000. Triumph Capital Management acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $31,000. Hilton Head Capital Partners LLC increased its stake in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 134 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $32,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the sale, the vice president owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on CCI shares. Truist Financial dropped their target price on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Jefferies Financial Group reduced their price target on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada dropped their price objective on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.

Crown Castle Stock Performance

NYSE:CCI opened at $76.09 on Friday. The stock has a 50-day simple moving average of $76.91 and a 200 day simple moving average of $83.86. Crown Castle Inc. has a 52-week low of $69.72 and a 52-week high of $100.50. The company has a market cap of $32.37 billion, a PE ratio of 38.62, a PEG ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.17). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, research analysts predict that Crown Castle Inc. will post 4.39 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio (DPR) is presently 215.74%.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.